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Modular Chiller Market to Expand US$ 6.2 Billion with a 5.2% CAGR from 2022-2032

03-01-2024 03:23 PM CET | Industry, Real Estate & Construction

Press release from: Fact.MR

Modular Chiller Market to Expand US$ 6.2 Billion with a 5.2% CAGR

Global modular chiller sales reached approximately US$ 3.7 billion in 2022. According to in-depth industry analysis, the market is projected to grow to US$ 6.2 billion by 2032, with a compound annual growth rate (CAGR) of around 5.2% from 2022 to 2032.

Market Dynamics

The global modular chiller market (モジュール式チラー市場) is witnessing steady growth, driven by increasing demand for energy-efficient cooling solutions across various industries. Modular chillers offer several advantages over traditional chiller systems, including scalability, flexibility, and ease of installation. These factors have led to a rise in adoption, particularly in commercial buildings, data centers, and industrial applications.

For More Insights into the Market, Request a Sample of this Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=7155

One of the key drivers of the modular chiller market is the growing focus on sustainability and environmental conservation. Modular chillers are designed to be highly energy-efficient, helping companies reduce their carbon footprint and comply with stringent environmental regulations. Moreover, the modular nature of these systems allows for easy expansion or reconfiguration, making them a cost-effective and future-proof cooling solution.

Another factor contributing to the market growth is the increasing demand for reliable cooling solutions in data centers. With the proliferation of data-driven technologies such as cloud computing and IoT, the need for efficient cooling systems to maintain optimal operating temperatures has become paramount. Modular chillers offer a scalable and efficient solution to meet the evolving cooling requirements of modern data centers.

List of Key Companies Profiled in The Report

Johnson Controls
LG Electronics
Carrier Corporation
Trane Technologies plc
Gree Electric Appliances, Inc.

Market Future Outlook

The modular chiller market (모듈형 냉각기 시장) is expected to continue its growth trajectory in the coming years, driven by the increasing demand for energy-efficient cooling solutions. The market is also likely to benefit from technological advancements, such as the integration of smart controls and predictive maintenance features, which enhance the performance and reliability of modular chiller systems.

Moreover, the adoption of modular chillers is expected to rise in emerging economies, where rapid industrialization and urbanization are driving the demand for HVAC systems. Government initiatives aimed at promoting energy efficiency and reducing greenhouse gas emissions are also expected to fuel market growth in these regions.

Market Insights

The global modular chiller market (Marché des refroidisseurs modulaires) is segmented based on type, application, and region. By type, air-cooled modular chillers are the most widely used, owing to their lower installation and maintenance costs. However, water-cooled modular chillers are gaining popularity due to their higher energy efficiency and lower environmental impact.

Want Full Report? Enquire Here- https://www.factmr.com/report/modular-chiller-market

In terms of application, the commercial sector dominates the market, driven by the increasing demand for HVAC systems in office buildings, hotels, and shopping malls. The industrial sector is also a significant contributor to market growth, with industries such as manufacturing, pharmaceuticals, and food processing adopting modular chiller systems to meet their cooling requirements.

Recent Developments

Key market players are continuously innovating their product designs to address modern challenges related to component placement in engine environments. Recent market developments include:

Frigel Firenze S.p.A. introduced the 3FX modular chiller in 2019, offering 12 different models. Seven models feature screw compressors, while the rest utilize scroll compressors.

In 2019, Trane Technologies plc acquired Arctic Chiller Group, expanding its product portfolio to include high-efficiency water-cooled and air-cooled modular chillers, as well as magnetic bearing chillers for process cooling and commercial HVAC applications.

Explore More Related Studies Published by Fact.MR Research:

Portable Chiller Market (Marché des refroidisseurs portables): https://www.factmr.com/report/3319/portable-chiller-market

Absorption Chiller Market (흡수식 냉각기 시장): https://www.factmr.com/report/absorption-chiller-market

Process Chillers Market (プロセスチラー市場): https://www.factmr.com/report/1904/process-chillers-market

Contact:

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Sales Team: sales@factmr.com

About Fact.MR :

We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

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